A Rough Takeoff for Wesco

Wesco Aircraft raised $315 million in its IPO after pricing at $15 per share, below its expected range of $15.50 to $17.50. All of the shares in the offering were sold by certain of the company's existing stockholders, including The Carlyle Group. Wesco distributes aerospace parts and provides supply chain management services to the aerospace industry. The company closed its first day trading on the NYSE under the symbol WAIR slightly down at $14.92.